I’m starting to see this discussion show up in more places. The Chicomms are using debt as both a carrot and stick all over the world, it’s about time we did the same.
Maybe we should go to countries that have Chicomm financed infrastructure and give them these bonds to use in repayment when the Chicomms move to take control of their infrastructure.
Time to stick it to these commies…just one problem: the ChiComs own our political class, either explicitly or implicitly—and it shows…also, an alarming number of these politicians and leaders sound like communists (AOC and The Squad, BHO, Gavin Newsome, and most of the senate’s current majority leadership).
I fully understand why our political class hasn’t taken action on this. The only reason I can find for the bond holders group to fail to take action is that they are in bed with the politicians.
Time to show China that when Uncle is serious at it, getting into economic warfare with the US is the like getting into kinetic warfare..... against every military force from Sargon's Palace Guard to today.
A nice opportunity that will likely never happen. In some ways, a kinetic contest could be our financial saviour- if we had the will to actually use it. Seize all Chinese assets. Cancel all debt. Idk if its "legal", but surely theres a bill or Executive Order that would make it so.
Of course all those funds would be needed to rebuild the USN after it gets spanked in WestPac, but I digress...
If you owe the bank $1000 you're in trouble, if you owe $1,000,000 the bank's in trouble. Not sure how you're going to declare them in default and seize their assets.
This is shady as hell. Needs further investigation, smells like astroturfing. Sad to see the unquestioning knee-jerking here.
I bet this is a lobbying effort in behalf of a group of "vulture capitalists" who have bought an interest in these bonds - classic "distressed debt" - for mills on the dollar and now want to enlist the US as their thug collector to make a fantastic return. Note that none of the holders are named in the story, nor does their website list any institutions or names. Most of the "20,000 American citizens" likely have a small interest in funds which hold the bonds. A few have much larger interests. It appears to be similar to the situation of the group of purchasers of defaulted Argentine debt a couple of years ago.
These people want the US Treasury to buy the bonds from them. At what price? Face value? Are they just made whole for the mills on the dollar they likely paid, or do they get a healthy capital gain? Then the USA is going to collect from China? Ridiculous.
The bonds in question were defaulted on because of an act of force majeure - the Japanese invasion of China. Aside from that, the Republic of China was notoriously corrupt per Stilwell and the PRC would be justified in repudiating the debt under "odious debt" principles which have been applied to other successor states in the past, eg Iraq.
Doing what this guy suggests is classic 19th century / 1914 road to war and the USA isn't even ready. We don't need to start WW III now to benefit investors in extremely speculative assets, wanting to make stupendous gains.
You want to invest in highly speculative foreign assets, fine. But don't expect the US government to be your goon / bailout.
A simpler solution: Deny Chinese access to US Stock market until they pay up (and maybe longer). China uses our stock market as a Piggy Bank from which to buy/build weapons to use against us. That ain't right. They are also stealing us blind (with little consequence) with IP theft and a full blown cyber war.
Great idea. In fact, have a bunch of silver certificates dated 1957. They actually say "payable in silver to the bearer upon demand" or words to that effect. I think our government should give me a sliver dollar for each one of my silver certificates.
I’m starting to see this discussion show up in more places. The Chicomms are using debt as both a carrot and stick all over the world, it’s about time we did the same.
Maybe we should go to countries that have Chicomm financed infrastructure and give them these bonds to use in repayment when the Chicomms move to take control of their infrastructure.
There's some $1T I.O.U. out there? Make the SOB's pay up.
This is new to me. Nice job, Sal.
Ain't gonna happen. Would be nice though. The CCP know we don't have the fortitude or leverage, unlike the Brits, to make this happen.
They already invested in America's Elite and expect full measure for their payments.
Time to stick it to these commies…just one problem: the ChiComs own our political class, either explicitly or implicitly—and it shows…also, an alarming number of these politicians and leaders sound like communists (AOC and The Squad, BHO, Gavin Newsome, and most of the senate’s current majority leadership).
Don’t hold your breath.
I fully understand why our political class hasn’t taken action on this. The only reason I can find for the bond holders group to fail to take action is that they are in bed with the politicians.
Time to show China that when Uncle is serious at it, getting into economic warfare with the US is the like getting into kinetic warfare..... against every military force from Sargon's Palace Guard to today.
This is way too simple and too logical. Uncle Stupid would never do something like this.
A nice opportunity that will likely never happen. In some ways, a kinetic contest could be our financial saviour- if we had the will to actually use it. Seize all Chinese assets. Cancel all debt. Idk if its "legal", but surely theres a bill or Executive Order that would make it so.
Of course all those funds would be needed to rebuild the USN after it gets spanked in WestPac, but I digress...
Are there members of Congress that read these posts? Just curious...
If you owe the bank $1000 you're in trouble, if you owe $1,000,000 the bank's in trouble. Not sure how you're going to declare them in default and seize their assets.
This is shady as hell. Needs further investigation, smells like astroturfing. Sad to see the unquestioning knee-jerking here.
I bet this is a lobbying effort in behalf of a group of "vulture capitalists" who have bought an interest in these bonds - classic "distressed debt" - for mills on the dollar and now want to enlist the US as their thug collector to make a fantastic return. Note that none of the holders are named in the story, nor does their website list any institutions or names. Most of the "20,000 American citizens" likely have a small interest in funds which hold the bonds. A few have much larger interests. It appears to be similar to the situation of the group of purchasers of defaulted Argentine debt a couple of years ago.
These people want the US Treasury to buy the bonds from them. At what price? Face value? Are they just made whole for the mills on the dollar they likely paid, or do they get a healthy capital gain? Then the USA is going to collect from China? Ridiculous.
The bonds in question were defaulted on because of an act of force majeure - the Japanese invasion of China. Aside from that, the Republic of China was notoriously corrupt per Stilwell and the PRC would be justified in repudiating the debt under "odious debt" principles which have been applied to other successor states in the past, eg Iraq.
Doing what this guy suggests is classic 19th century / 1914 road to war and the USA isn't even ready. We don't need to start WW III now to benefit investors in extremely speculative assets, wanting to make stupendous gains.
You want to invest in highly speculative foreign assets, fine. But don't expect the US government to be your goon / bailout.
Perhaps we set up an “interest garnishment” program for China to receive no interest on US Bonds until their sovereign debt is repaid?
A simpler solution: Deny Chinese access to US Stock market until they pay up (and maybe longer). China uses our stock market as a Piggy Bank from which to buy/build weapons to use against us. That ain't right. They are also stealing us blind (with little consequence) with IP theft and a full blown cyber war.
Great idea. In fact, have a bunch of silver certificates dated 1957. They actually say "payable in silver to the bearer upon demand" or words to that effect. I think our government should give me a sliver dollar for each one of my silver certificates.
Sounds like the Trump method. When you owe a million you are in trouble. When you owe a million your creditors are in trouble.